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Tamarisk Builders contracted to build a high-rise for $28,400,000. Construction began in 2021 and is expected to be completed in 2023. Data for 2021 and

image text in transcribed Tamarisk Builders contracted to build a high-rise for $28,400,000. Construction began in 2021 and is expected to be completed in 2023. Data for 2021 and 2022 are: Tamarisk uses the percentage-of-completion method. How much gross profit should be reported for 2021 ? Gross profit \$ eTextbook and Media List of Accounts How much gross profit should be reported for 2022 ? Gross profit $ eTextbook and Media List of Accounts Make the journal entry to record the revenue and gross profit for 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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